Logistic Properties Of The Americas Executes 5-Yr U.S. Dollar- Denominated Lease For 121,600 Sqft Of Logistic Space With Regional 3PL At LPA Coyol 4 Logistic Park In San Jose, Costa Rica
Benzinga Newsdesk 1 year ago
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Logistic Properties of the Americas (NYSE:LPA) ("LPA" or the "Company") announced the execution of a new five-year U.S. dollar- denominated lease for 121,600 square feet of logistic space with a regional third-party
Logistic Properties of the Americas (NYSE:LPA) ("LPA" or the "Company") announced the execution of a new five-year U.S. dollar- denominated lease for 121,600 square feet of logistic space with a regional third-party logistics provider (3PL) at LPA Coyol 4 Logistic Park in San Jose, Costa Rica. This new agreement reflects approximately a 20% increase in the net effective rental rate, including common area maintenance fees, compared to the previous lease for the same space, which underscores the high demand and increasing value of institutional-grade logistics properties in Costa Rica.